Mineral Mountain Highly Encouraged with Recent Technical Studies MMV-TSX-V MNRLF-OTCQB M8M:FRANKFURT
Mineral Mountain Highly Encouraged with
Recent Technical Studies
MMV-TSX-V
MNRLF-OTCQB
M8M:FRANKFURT
VANCOUVER, BC
,
Jan. 28, 2021
/CNW/ - Mineral Mountain Resources Ltd. and Mineral Mountain
Resources (SD) Inc. ("Mineral Mountain" or the ("Company") (TSXV: MMV) is pleased to report,
that over the last few months, the Company has significantly advanced its understanding of
underlying geological controls on gold mineralization in the
Rochford
district, and, particularly in the
vicinity of the Standby Mine. This has been accomplished through recently completed and ongoing
structural, stratigraphic and geochronologic studies, along with the application of innovative
geochemical and multi-isotopic vectoring methods. This on-going work continues to highlight the
Standby Mine as a significant exploration target with many of the architectural elements needed to
host a major gold deposit.
The Standby Mine occurs at the intersection of a significant body of Rochford Iron Formation
thickened in a synclinal fold axis with a regionally significant north-northwest-trending shear zone that
guided mineralizing hydrothermal fluids from depth. Ten synclinal fold structures with a similar
geometry and overall scale referred to as "ledges" contained economic gold mineralization mined at
the Homestake Mine (see Figure 1 entitled Standby/Homestake Comparison posted on the
Company's website at
Rochford Standby – Mineral Mountain Resources Ltd.
). The geometry of the
iron formation at Standby is now understood in detail from recently acquired high resolution
geophysical surveys and will aid in further subsurface drill targeting. A well-defined zone of quartz
veining, carbonate-chlorite alteration and shear fabric can be traced through the Standby mine area
for at least 3,650 meters (12,000 feet) on surface, and marks the position of the shear zone that
appears to control mineralization in this part of the district. The long-lived structural history of this
shear zone, as the evidence suggests, is an important factor in the development of a significant
shear zone-hosted gold deposit. Multiple episodes of this movement are indicated by the presence
of several generations of crosscutting and variably deformed quartz-carbonate veins and shallow
plunging drag folds associated with oblique thrust movement along the shear zone. Compositionally
unusual albitite veins have intruded the shear zone at Standby and importantly, have also been seen
in the largest ledge systems in the Homestake mine and in many of the world's significant orogenic
gold camps such as in the
Timmins
gold district, northeastern
Ontario
.
Significant advances have also been made in the regional connections between the
Rochford
district
and the spectacularly productive Lead-Homestake district to the north. Presently, the
Rochford
and
Lead
districts are only 25 kilometers apart, and significantly, at least 14 kilometers of net shear
offset brings the two camps into direct juxtaposition (see Figure 2 entitled "Regional Connection:
Homestake and
Rochford
posted on the Company's website at
Rochford Standby – Mineral Mountain Resources Ltd.
). During the time of major gold mineralization
in the Black Hills, the two camps were neighbors across this shear zone and it is possible to
consider the
Rochford
district "West Homestake". It is even possible that the two major antiforms
were once aligned into a single large-scale structure prior to shear dismemberment. The portion of
the antiform containing older (deeper) rocks, including the Homestake iron formation dominates
exposure in the
Lead
District, while the younger (shallower) rocks are exposed in the
Rochford
district. The overall architecture of the two camps is
remarkably
similar. Given the similarity in
deformation-metamorphic histories and the comparable lithologies of the Homestake and
Rochford
iron formations, the
Rochford
district should contain significant gold resources available for
discovery. The displaced eastern lower portion of this major early structure produced, in excess of
41 million ounces of gold.
Mineral Mountain Resources Ltd. will be raising sufficient capital to support a fully permitted core
drilling program in early 2021 that will test the Standby Trend. In addition, Mineral Mountain is also
conducting a district scale structural foliation study and a specific type of geochemical study that has
proven successful at providing vectors to mineralization at the Homestake Mine.
Nelson Baker
, President and CEO of Mineral Mountain offers:
"Our technical team are very
encouraged and excited about the initial
results
of our study on contours of the dip of a specific
foliation to spatial relationships with gold mineralization in the
Rochford
District. This novel
approach was successfully applied in
Australia
by an esteemed structural professor on several
synorogenic gold deposits and has also been mirrored successfully in unpublished work from
former Homestake Mine geologists at the Homestake Mine. Initial work by MMV is providing
positive results validating known gold systems such as the Standby and
Cochrane
deposits in the
Rochford
District and identifying
other
anomalies that need to be field checked and evaluated."
Mineral Mountain also announces that it has granted an aggregate of 2,275,000 incentive stock
options to directors, officers and consultants of the Company in accordance to the Company's stock
option plan. The options are exercisable at a price of
$0.25
per share for periods between three and
five years from
January 27, 2021
, the date of grant, in accordance with their respective vesting
provisions. The options are subject to the approval of the TSX Exchange.
About Mineral Mountain
Mineral Mountain Resources Ltd., through its wholly owned subsidiary Mineral Mountain Resources
(SD) Inc., is an exploration and development Company with a strong management and technical
team which has many years of experience in the Homestake area. The parent Company, Mineral
Mountain Resources Ltd., is based in
Vancouver, B.C.
The Company now owns one of the largest land packages, now totaling over 7500 acres, in the
Rochford
District located in the Black Hills of
South Dakota, U.S.A.
about 25 kilometers south of the
richest and largest gold deposits in the world, the Homestake Mine gold system, which produced
over 41 million ounces of gold! The Company also owns a comprehensive database for the entire
Rochford Gold District, a large supporting land position within the
second
most productive gold
districts in
the United States
.
On Behalf of the Board of Directors
MINERAL MOUNTAIN RESOURCES LTD.
"
Nelson W. Baker
"
, President and CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as such term is defined in
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
Forward looking information
This release includes certain statements that may be deemed to be
"
forward-looking
information
"
under Canadian securities laws. All statements in this release, other than statements
of historical facts, that address events or developments that the Company expects to occur,
constitute forward looking- information. Forward looking information consists of statements that are
not historical facts and are generally, but not always, identified by the words
"
expects
"
,
"
plans
"
,
"
could
"
or
"
should
"
occur. Although the Company believes the expectations expressed in such
forward-looking information are based on reasonable assumptions, such information does not
constitute guarantees of future performance and actual results may differ materially from those in
forward- looking information. Factors that cause the actual results to differ materially from those in
forward-looking information include gold prices, results of exploration and development activities,
regulatory changes, defects in title, availability of materials and equipment, timeliness of
government approvals, continued availability of capital and financing and general economic,
market or business conditions. The Company cautions the foregoing list of important factors is not
exhaustive. Investors and others who base themselves on the Company's forward-looking
information should carefully consider the above factors as well as the uncertainties they represent
and the risk they entail. The Company believes that the expectations reflected in the forward-
looking information are reasonable, but no assurance can be given that these expectations will
prove to be correct. Please see the public filings of the Company at
www.sedar.com
for further
information.
SOURCE
Mineral Mountain Resources Ltd.
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For further information:
Brad Baker, Vice-President Corporate Development & Director, (778)
383-3975, [email protected] or visit our website: www.mineralmtn.com
CO: Mineral Mountain Resources Ltd.
CNW 08:00e 28-JAN-21